Newbie lessons?

Mr J said:

Like the current Trading/Investing Resources section?

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EXACTLY!


hence my post about ppl being too bloody lazy to do there own research

seems most newer visitors to this site want everything gift wrapped . and tips hat to those that have supplied said gift wrapping to them but personally a lil annoyed that some whinge about the joint without actually having a proper look first !

end of rant

unimpressed nun

can we start a thread called " dead cert stock tips for those that like the stockmarket but cant be bothered trying to work it out themselves " ?


no offense intended

nunthewiser said:

can we start a thread called " dead cert stock tips for those that like the stockmarket but cant be bothered trying to work it out themselves " ?

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It needed to be said

...

LOL timmy


bad bad nun!


look im all for ppl asking questions , it aids ALL OF US

just not into ppl whinging about stuff here when they havent taken the time to actually look

a back in box nun

It's a bit true that newbies would be quite put off with searching for stuff in this forum.

We do seriously need a few more sticky threads on the investing/strategy section.

Yes the search function is quite weird. I did a normal search for the term "books" like the moderator who had done so previously, and I got 1500 odd responses that don't look to be like books threads at all.

Who can be stuffed searching through all the results to find the right answer. I couldn't if I was a newbie.

w.

wonderrman said:

Yes the search function is quite weird. I did a normal search for the term "books" like the moderator who had done so previously, and I got 1500 odd responses that don't look to be like books threads at all.

Who can be stuffed searching through all the results to find the right answer. I couldn't if I was a newbie.

w.

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advanced search

search for books in title thread

many other criterias there to narrow stuff down

not rocket science

just same as if u was using google really

the narrower the search the more precise it becomes

nunthewiser said:

EXACTLY!


hence my post about ppl being too bloody lazy to do there own research

seems most newer visitors to this site want everything gift wrapped . and tips hat to those that have supplied said gift wrapping to them but personally a lil annoyed that some whinge about the joint without actually having a proper look first !

end of rant

unimpressed nun

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I agree.
I think it's all about attitude. Some newbies have asked quite a few questions but have done so politely. It's when it's in the form of a demand and an expectation that it gets to me a bit.

and heres another gem of a thread for newbies and oldies alike


https://www.aussiestockforums.com/forums/showthread.php?p=426076&posted=1#post426076

anything else needed?

pillow fluffed ?

coffee in bed ?

please do not hesitate to contact me if i can be of further assistance in searching out freely available info for you at anytime day or night

wonderrman said:

Yes the search function is quite weird. I did a normal search for the term "books" like the moderator who had done so previously, and I got 1500 odd responses that don't look to be like books threads at all.

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Use the advanced search and search by title! I cannot stress how valuable you will find this. It is the only search I use and I turn up threads from years ago in seconds.

Here is how you do it in three easy steps:

1. Go to the advanced search.
2. Enter your keyword of choice in the "Key Word(s)" box at the top left and change the drop down box immediately below it to "Search Titles Only". (See attachment #1)
3. Click the "Search Now" button and experience the joy that comes with highly targetted search results. 36 results for "books" and all relevant! (See attachment #2)

See this thread for more tips on using ASF's extremely powerful search.

wonderrman said:

Who can be stuffed searching through all the results to find the right answer. I couldn't if I was a newbie.

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depends how bad you want it...

...all information here is given free by people who owe you nothing, ---- invaluable information from their experiences/knowledge.

it seems ungrateful to want to be hand fed, when you have the priviledge to be apart of such a helpful forum.

just my 2cents.

I think it's about time I made my first post - been lurking here for about a week now

**Edit** just found out you have to make at least 5 posts here before you can post links... I did have links to everything in here, but since it won't let me post them you'll just have to guess where the sites are, lol... once I've made 5 posts I'll come back and edit them back in! **

The search function here is definitely terrible (it takes some trial and error before working out how to make it usable), the default option 'search entire post' is almost useless and I think a lot of people give up soon after that - even trying to narrow it down after that you often get hit with an anti-spam setting that makes you wait 15 seconds between searches... part of the problem is that it doesn't return the context of where the search matches (unless you specifically select 'show results as posts' right at the bottom of the advanced search form, which brings up other issues) - not much use getting a hit on a 15 page thread and the bit you're looking for is buried at the bottom of page 13.

I'm not sure what the best answer is, but you could investigate adding a google custom search option? (free and easy to setup) here's what you'd get for a search on books google.com.au/search?hl=en&q=site:aussiestockforums.com+books&btnG=Search&meta= , a lot more relevant than shown in the posts above... and gives everyone another option for finding stuff.

I also think the sticky posts could be a little better organised - you've got some good stuff there (newbie lessons thread in particular), but what I think you're missing is a sticky thread for 'Newbie Resources' that lists links to a heap of free resources, book recommendations, online brokers, classic forum threads etc. all those kind of things that people just starting out need to be aware of.

Newbie research quickly goes from 'I have some inkling of what I need to find, but no idea where to find it', to 'wow, that site is awesome, wish I'd known about it yesterday' to 'argh so much stuff to read, where do I start'... those transitions could be made easier

For starters, here are the two sites I'm finding the most interesting at the moment and are well worth checking out if you're starting your research:

Google Finance - while it doesn't have a home page setting for ASX stocks, it does list some fantastic info for all the ASX stocks (just put asx: in front of the stock code) and if you use gmail or any other google functions already, it's a really simple solution for setting up watchlists etc. lots of freedom, doesn't seem to be limited like other sites... finding it really handy.

Smart Investor Data (afrsmartinvestor.com.au > 'Share Tables') - If you like playing around with data in excel, the Smart Investor mag provides a ton of info in easy to download .csv or .xls files... finding this a great spot to start doing company research.

Being a Newbie in trading is a real pain in the butt. You read through so much garbage and waffle on here it is hard to find exactly what you're after...I can't believe how many threads I've read through only to find the initial enquiry gets swamped by so much information.

I'll be specific in what I want and if you can assist I'd be grateful. I want to start with say US$5,000.... I want to operate on the US market when it is closed.... and spend maybe a half hour a day....I think this may be achieved by doing shares/options. I want to learn how to do this but in the interim I don't mind subscribing to a service. I don't want to gamble my money away but rather I am happy to make conservative gains and in 12 months I would like to have achieved around a profit of $15-20k.

Questions:
What should I read.
What software should I consider
What subscription service is worth considering
What platform and data feeds are worth considering
What don't I know?

thanks

Paul

plato2 said:

I'll be specific in what I want and if you can assist I'd be grateful.
I want to start with say US$5,000....
and spend maybe a half hour a day....
I am happy to make conservative gains
and in 12 months I would like to have achieved around a profit of $15-20k.

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plato2 said:

What don't I know?

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that this will not be achievable

plato2 said:

I want to start with say US$5,000.... I am happy to make conservative gains and in 12 months I would like to have achieved around a profit of $15-20k.

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Paul, I will come back more details but first things first.

You are a beginner
You are going to start with 5K
Happy with conservative gains
Achieve profit of 15 to 20K in 12 months


These are not conservative gains. You need to adjust your expectations drastically.

plato2 said:

I want to start with say US$5,000.... I want to operate on the US market when it is closed.... and spend maybe a half hour a day....I think this may be achieved by doing shares/options. I want to learn how to do this but in the interim I don't mind subscribing to a service. I don't want to gamble my money away but rather I am happy to make conservative gains and in 12 months I would like to have achieved around a profit of $15-20k.

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As a fellow newbie, I know it's easy to get caught up in everything, but if $15-20k profit is your target, you may want to consider what's needed to get close to that. It's a 300%-400% gain on your starting capital, which isn't exactly realistic... but if you have the resources available to you, and can add additional funds regularly once you start gaining confidence in your trading system, then it may be something you can achieve in 12 months...

damn... too slow - two people got in with the same thing before me, lol

I equate my time as being valued at $50 per hour...now if I spend 5 hours a week that's $250 of my time, over a year that's $13,000.... so I would expect to be close to this mark in profit.... or really is everyone kidding themselves that really trading is simply gambling.

plato2 said:

I equate my time as being valued at $50 per hour...now if I spend 5 hours a week that's $250 of my time, over a year that's $13,000.... so I would expect to be close to this mark in profit.... or really is everyone kidding themselves that really trading is simply gambling.

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Yakidding!

Your time may be worth $50 an hour in a field where you have had training and a couple of years experience but in trading you are not even a newbie. You have nothing. And in this game that's at least $50 with a big - in front of it.

What line of work does someone who knows nothing at all start at $50 an hour. Just LOL

plato2 said:

I equate my time as being valued at $50 per hour...now if I spend 5 hours a week that's $250 of my time, over a year that's $13,000.... so I would expect to be close to this mark in profit.... or really is everyone kidding themselves that really trading is simply gambling.

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What business are you in that pays you $50 an hour? Did you earn this in your first year at it, with no knowledge, skills, experience etc.? If so, stick with it and leave this game alone, as their is learning to be done first. If you want to learn you are in the right place, but if not, save yourself the heartache.

It has taken you 2 posts to ask if trading is just gambling? Are you here as a new entrant asking for assistance?

In my first reply to you I said you need to adjust your expectations. Add to this an attitude adjustment too. No offence intended, and its up to you, but there's plenty of help here if you want it and are happy to take the time.